Electric Motors Market 2028: Top Vendors Analysis, Growth Drivers and Geographic

1. Electric Motors Market Growth Analysis & Forecast Report | 2022-2028

2. Industry Insights • As per a recent research report, global electric motors market size in transportation sector to Hit $25 billion by 2028. • Electric motors market in transportation sector is gaining momentum, thanks to the rising focus toward fuel economy amidst the pathway to a sustainable future. With the electrification goals on the rise across the EU, the high versatility of these products is enhancing their uptake. • Low-voltage electric motors are likely to see a steady increase in use, prompted by their rising integration in electric vehicles. Another important factor fueling the use of electric motors for automotive applications is the rising government expenditure toward roadway, railway, and aerospace development projects.

3. Owing to their good speed control and high torque, DC motors will be extensively used in Brazilian trains, where they effectively move heavy load in a safe manner. Industry participants have been developing good windscreen wiper motors for railways, which need to perform efficiently in all weather conditions. • Small DC motors industry share in Brazil is anticipated to grow consistently, thanks to the growing investments toward railway transportation. As the regional government seeks to solve persistent logistical problems throughout the nation, a new law will open new opportunities for market players because the railway sector in Brazil is underused. According to FGV Transportes, nearly 9,320.5 miles out of the 18,642 miles of the National Rail Network is currently underused, while another 4,350 miles have been abandoned. • According to the European Automobile Manufacturers Association (ACEA), during the pre-pandemic times, Poland had been a top contributor in the market for heavy commercial vehicles in Central Europe. Over the last couple of years, however, the nation recorded a double-digit decline. Notwithstanding these factors, the sales of these automobiles will grow, adding to Poland electric motors market share from the transportation sector.

4. Regional Analysis • Electric motors market share from low voltage AC (LVAC) motors in North American transportation sector will grow considerably through 2028, triggered by the rising EV applications. Off-road trucks, mining vehicles, and forestry vehicles have been displaying an increasing demand for high torque solutions. Haulers and airport vehicles have also been preferring the use of these products due to their lead-time targets and best-in-class performance. Off-road and all-terrain vehicles (ATVs) have seen a steady stream of customers since the last five years across North American countries. • Competitive Analysis • Nidec Corporation • ABB • Siemens • WEG • Robert Bosch • Toshiba

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